Understanding your Financial Aid Award
Financial Aid Terms and Conditions
Financial aid awards for the 2015-2016 academic year will continue being processed as students files are completed.
Qualifying for Aid
To be eligible for federal, state and institutional aid, students must meet the following criteria:
- Demonstrate financial need (may not be required for some loan and institutional programs)
- Have a high school diploma or GED
- Be enrolled in an eligible degree or certificate program
- Maintain financial aid Satisfactory Academic Progress (SAP)
- Not be in default or owe a repayment of Title IV funds
- Have a valid Social Security Number
- Be a U.S. Citizen or an eligible non-citizen with permanent residency status and alien registration identification number
- Be registered with Selective Service (males between the ages of 18 and 25)
- Have not borrowed in excess of loan limits under the Title IV program
- Have not exceeded Pell Grant Lifetime eligibility
- Must have all requested documents on file before disbursements are made
Conditions Affecting Eligibility
Aid may be subject to change. Your financial aid award may be adjusted or cancelled at any time due to the following circumstances:
- Changes to your course schedule
- The Financial Aid Office (FAO) will certify enrollment at the end of the add/drop period for each term. If students are registered for classes, but do not attend beyond the add/drop period, they must officially drop the course(s) or be financially responsible for all charges incurred. All awards will be adjusted at this time to reflect actual enrollment status.
- Failure to maintain satisfactory academic progress (http://www.ccri.edu/oes/fa/academic_progress.html)
- Withdrawal from any or all of your courses in a semester
- Receipt of information about other scholarships, tuition discounts, and funds from other sources not previously considered by the financial aid department.
- Students are required to notify Financial Aid if they receive a scholarship, grant or loan from an outside source since this may affect their eligibility for financial aid.
- Receipt of information about awards received at prior institution(s)
- If a student takes courses at two institutions during the same time period, they may one receive financial aid from one of the institutions
- If a student receives aid they are not entitled to, it will be their responsibility to repay those funds.
- Failure to provide all required documents to the financial aid department in a timely manner
- Change to your program of study, or a failure to choose a program of study
- Corrections made by a school and/or student to a Student Aid Report (SAR) can cause changes in award amounts and eligibility
- Receipt of any other information that changes your eligibility for any type of financial aid
Pell Grant awards are based on full-time enrollment. Awards will be prorated for any enrollment less than full-time.
Rhode Island State Grant Award
A new process for determining and distributing Rhode Island State Grant awards aims to ensure all Pell Grant recipients enrolled full time (12 or more credits) will have sufficient funds to pay for tuition and fees and receive a book allowance without incurring debt. CCRI will determine each student’s Rhode Island State Grant award based on enrollment, tuition and fees.
The college also will consider all Pell Grant recipients who are taking between 6 and 11 credits for additional funds beyond tuition and fees.
If your award contains Federal Direct Stafford Loans, subsidized or unsubsidized, please note that first time borrowers will need to complete Entrance Counseling and a Master Promissory Note (MPN) at www.studentloans.gov. If your award does not contain a Federal Direct Stafford Loan, you may be eligible to borrow a loan to help pay for your tuition, fees, books, or other educationally related expenses. Please visit http://www.ccri.edu/oes/fa/studentloaninformation.html to learn important information regarding student loans.
Direct Loan recipients must be enrolled for at least 6 credits (half-time) at the time the loan is disbursed.
Your award is based on current information. Additional documents may be required to finalize your financial aid now or at a future date. Please check your MyCCRI email and MyCCRI student portal periodically to see if anything further is being requested. All communications from the Financial Aid Department are sent to students through their MyCCRI email. You are able to view your financial aid information by logging into your MyCCRI account and choosing the “For Students” tab.
Withdrawal from classes
When a student ceases attendance, or fails to successfully complete ALL courses during a term, the financial aid award must be recalculated based on the amount of the term that was completed. This calculation may result in a bill owed to the college. Please refer to http://www.ccri.edu/oes/fa/RepaymentofTitleIV.html to review additional information regarding this policy.
You are solely responsible for paying any remaining balance on your account by the bill due date. Please check your MyCCRI account to review any balance that may be owed to the college. Please visit the Bursar’s website for information concerning tuition and fees, bills, etc.
If your financial aid, after subtracting the costs of tuition and fees, creates a credit balance on your account, you may be eligible to use that credit towards purchasing books at the CCRI book store during the authorization period. To be eligible, you must have a financial aid award that exceeds your bill and have authorized CCRI to use your aid for non-institutional charges.
Satisfactory Academic Progress
To maintain financial aid eligibility, students must meet certain academic standards called Satisfactory Academic Progress (SAP.) For example, withdrawing from a course, even for specific reasons, may impact your eligibility in a similar manner as receiving a failing grade. For more information concerning CCRI’s SAP policy, please visit http://www.ccri.edu/oes/fa/academic_progress.html.
Other Important Information
Financial Aid does not pay for audited courses, challenge exams or CLEP tests.
Students must be enrolled at least half-time (six credits) to be eligible for Rhode Island State Grant and to receive priority funding for Federal College Work Study (FCWS) and Federal Supplemental Opportunity Grant (FSEOG.) Students may be eligible for a Pell Grant if enrolled less than half-time.